Standard Flood Program:
| Total Annualized Gross Premium | New Business - payable on each policy | Renewal Business - payable on each policy |
| $2.5M or less | 19% new business | 18.5% renewal business |
| Over $2.5M | 20% new business | 19.5% renewal business |
| Transfer Commission |
Payable
on each policy
|
| Up to $2.5M |
19%
|
| Over $2.5M |
20%
|
Flood Solutions Program:
| Total Annualized Gross Premium | New Business - payable on each policy | Renewal Business - payable on each policy |
| $2.5M or less |
15%
|
13%
|
| Over $2.5M |
16%
|
14%
|
| Transfer Commission |
Payable
on each policy
|
| Up to $2.5M |
15%
|
| Over $2.5M |
16%
|
Calculations Notes:
- Annualized Gross Premium is defined as gross premium written hereunder during the immediately preceding 365 days as calculated the day the Policy is written under the Program.
- When the commission rates paid to PIA Members increases or decreases, such change applies prospectively to new or renewal policies processed on or after the date of the change.